Ivanhoe Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Ivanhoe Medical Comparative Balance Sheet As of December 31 2020 2019 Assets Current assets Cash $ 359,000 $ 417.450 Accounts receivable, net 1,014,000 776.400 Inventory 736,000 681,000 Other current assets 381,350 247,000 Total current assets 2.490,350 2,121,850 Property.plant, & equipment, net 8,737,045 8,439,895 Total assets $11.227,395 $ 10,561,745 $ 3.167,000 $ 2,846,000 Liabilities and Stockholders' Equity Current liabilities Long-term debt Total liabilities 3.702,600 3,892,600 6,869,600 6.738.600 Preferred stock, 55 par value 58,950 58.950 104,650 103,850 Common stock $0.25 par value Retained earnings Total stockholders' equity 4.194,195 3,660.345 4.357,795 3,823,145 Total liabilities and stockholders' equity $11.227,395 $ 10,561,745 Ivanhoe Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 $ 10,177,200 $ 9,613,950 5,612,550 5,298,800 4564,650 4,315,150 2,840,250 2,634 150 1,724.400 1,681,000 300,400 308,650 1.424,000 1,372,350 427,200 411,705 Sales revenue (all on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid Preferred dividends Common dividends Total dividends paid Net income retained Retained earnings, beginning of year Retained earnings, end of year $ 996,800 $ 960,645 29.500 29,500 433.450 413,100 462.950 442,600 533.850 518,045 3,660,345 3,142,300 $4,194,195 $ 3,660,345 (a) Calculate the earnings per share (average of 410,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, eg.255.) Earning per share $ pershare (b) Calculate the price/earnings ratio (market price of $ 43 at year-end) for 2020. (Round answer to 1 decimal place, eg.2.5.) Price earnings ratio eTextbook and Media Save for later Attempts: 0 of 3 used Submit Answer (c) Calculate the dividend payout ratio (dividends of $ 1.25 per common share for the year) for 2020. (Round answer to 1 decimal place, eg. 2.5.) Dividend payout ratio 95 e Textbook and Media Save for Later Attempts: 0 of 3 used Submit